Kalpataru Limited has announced the resignation of Mr. Abhishek Thareja from his position as Company Secretary and Compliance Officer, marking a significant change in the company's key managerial personnel. The resignation becomes effective from the close of business hours on December 12, 2025.

Resignation Details

The company informed the National Stock Exchange of India Limited and BSE Limited about this development under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was made in accordance with industry standards and SEBI listing regulations.

Key Information

Mr. Thareja submitted his resignation letter on September 10, 2025, providing the company with adequate notice period before his departure. In his resignation letter, he specifically mentioned his intention to pursue entrepreneurial opportunities and personal aspirations as the primary reasons for leaving his current role.

The departing Company Secretary has requested the company to file necessary forms with the Registrar of Companies, Ministry of Corporate Affairs, and submit intimation to the Stock Exchanges as part of the standard resignation process.

Regulatory Compliance

Kalpataru Limited has ensured full compliance with regulatory requirements by providing detailed information as mandated under SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has also made the resignation letter available as per clause 7C of Para A of Part A of Schedule III to the SEBI Listing Regulations.

Acknowledgment and Future Outlook

In his resignation letter, Mr. Thareja expressed sincere gratitude to the Board of Directors for their unwavering support and cooperation throughout his tenure. He extended his best wishes to the company for continued growth, success, and future endeavors. The information has been disseminated on the company's official website at www.kalpataru.com for public access and transparency.

Kalpataru Limited , a prominent real estate developer in Mumbai, has withdrawn its scheme of arrangement for demerging Project Yoganand (Borivali, Mumbai) to its wholly owned subsidiary Kalpataru Residency Private Limited. The National Company Law Tribunal (NCLT) Mumbai Bench approved the withdrawal, reversing the company's earlier demerger plan that was approved by the Board.

Background of the Demerger Scheme

The original demerger scheme was designed to transfer Project Yoganand from Kalpataru Limited to Kalpataru Residency Private Limited. The primary objective was to create a special purpose vehicle (SPV) to facilitate funding and refinancing from prospective investors and lenders.

Withdrawal Decision

The withdrawal of the demerger scheme marks a shift in the company's corporate restructuring strategy for the Mumbai-based project. This decision affects the previously planned corporate structure and project management approach for Project Yoganand.

Implications for the Company

The withdrawal of the demerger scheme may indicate a change in Kalpataru Limited's strategic approach to project management and financing. It suggests that the company may have reassessed its needs for managing the project within its current corporate structure.

Corporate Governance and Transparency

Kalpataru Limited's disclosure of this development to the stock exchanges, as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrates its commitment to transparency and corporate governance practices.

Looking Ahead

Investors and market analysts may be watching to see how this decision affects Kalpataru Limited's project management and financial strategies. The withdrawal of the demerger scheme could lead to a reevaluation of the company's approach to project financing and corporate structuring for its real estate developments.

Kalpataru Limited continues to be a significant player in Mumbai's real estate market, and this decision may be part of its efforts to optimize its corporate structure and project management approaches in response to market conditions and regulatory requirements.